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– For 2019, we have seen signs of a large increase in errors and underreporting within the virtual currency. In the 2020 tax return, we want to reduce this number, says Stine Olsen, interim division director of the Tax Administration, in a press release.
– We know that there are many more who own cryptocurrencies than those who declare it in the tax return. All taxable income and assets must be reported, including cryptocurrency. Tax authorities want to give these individuals the opportunity to report correct tax information themselves. We decide to believe that most people want to make up for it, he says.
Almost 2,000 people receive letters
Some of the nearly 2,000 people who now receive letters from the Tax Administration are contacted because they reported dealing with cryptocurrencies in 2018.
– We want to remind you that you must also report the values on this year’s tax return, says Stine Olsen.
Others are contacted because they have been detected through the analysis tool of the Tax Administration or other data sources.
Individual boxes of more than 100 mill.
In November, DN wrote that in the 2019 tax return, 4,740 people have reported cryptocurrencies. Tax authorities later stated that they had identified between 60,000 and 70,000 people who had a cryptocurrency. At that time, decisions and decision notices had been sent about 80 cryptocurrency-related cases.
What we have seen so far are several major cases where there has been a change in millions of income and tens of millions in wealth. We have individual cases where the income has been several tens of millions of crowns and the property value of more than 100 million crowns. We have reported additional taxes in all cases, Olsen said at the time.
– We follow closely
– We are closely following developments around cryptocurrencies. Many people think that they are anonymous when they perform these types of operations, but that is wrong. The process related to cryptocurrency transactions is actually quite open, says Stine Olsen
Everyone who now receives a letter is reminded that they can change their own tax return and receives guidance on how to do so.
– These are usually high amounts in this type of transaction. Therefore, it is important that the Tax Administration follow up on these cases, says Olsen.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content can only be done with written permission or as permitted by law. For more terms, see here.
